The Seafield Arms Hotel and Restaurant in Cullen was closed and put up for sale with a £900,000 price tag in 2011, but in the midst of a recession and uncertainty over the future there were not takers for the 23-bed property.
Considered as one of the best hotels in the region the hotel welcomed thousands of visitors to the area – but by May 2013 it’s asking price was almost halved to £490,000 as owners sought to rid themselves of the building.
Now there is new hope for the future as the hotel will go to auction with a guide price of just £250,000 – seen as a bargain for anyone seeking to reopen the hotel at a time when the property market and tourism in Moray is once again showing an upward trend.
“This is a well known property in a prominent position which could be re-established as a hotel,” Simon Bailey, a director at auctioneers Eddisons, said. He added: “It also has the potential for alternative uses subject to planning.”
Local councillor Ron Shepherd has high hopes that the price will mean the building can take down the boards and once again be used for its original purpose. He said: “I’m hoping that it remains a hotel – but the main thing is that something is done with it, even if it is turned into flats.
“At the moment it looks awful – it is in a really prominent position in the town and it is terrible to see it all boarded up. Surely at £250,000 it will finally sell – at that price it’s going to be an absolute steal for somebody.”